(Translation)

No. 80000001/ 112

February 18, 2021

To : President,

Stock Exchange of Thailand

CC : Secretary-General of the Office of the Securities and Exchange Commission

Attachment: Precautionary Measures and Guidelines for attending the 2021 Annual General meeting of

Shareholders, regarding the outbreak of COVID-19

Re : The 2021 Annual General Meeting of Shareholders Date, Its Agenda Items, and 2020 Dividend Payment

According to PTT' s Board of Directors Meeting No. 2/ 2021 held on February 18, 2021, the Board of Directors has resolved as follows:

  • (1) PTT will hold the 2021 Annual General Meeting of Shareholders (the 2021 AGM) on Frida April 9, 2021 at 13.30 hours. The meeting will be held at Bangkok Convention Center, 5th Floor, Central Plaza Ladprao (Plaza Zone), 1695 Phaholyothin Road, Chatuchak, Bangkok 10900, Thailand

  • (2) PTT has fixed the Record Date on which shareholders have the right to attend the 2021 AGM and receive dividends on Friday March 5, 2021 (Record Date). The dividend will be paid on Friday April 30, 2021 subject to approval from the 2021 AGM

  • (3) The agenda items for the 2021 AGM are as follows:

Item 1:

To acknowledge the 2020 performance statement and to approve the 2020 financial statement ended on December 31, 2020

The board's opinion:

We recommend the shareholders to acknowledge the 2020 performance statement and to approve the 2020 financial statement ended on December 31, 2020 which has been audited by the auditor and reviewed by the Audit Committee. The board has also endorsed the statements.

Item 2:

To approve 2020 net profit allocation and dividend payment

The board's opinion:

After due consideration, the Board of Directors deemed it appropriate to propose that the shareholders approve 2020 net profit allocation and the dividend payment for the year 2020 performance which will be paid to the shareholders of 28,562,996,250 shares at the rate of Baht 1.00 per share, totaling Baht 28,563 million. After deduction of the interim dividend payment for the first half of 2020 performance at the rate of Baht 0.18 per share with the total amount of Baht 5,142 million and be paid to the shareholders on October 16, 2020 (the interim dividend payment was paid from the unappropriated retained earnings which subjected to

20% corporate income tax wherein individual shareholders shall be entitled to a Dividend Tax Credit under Section 47 bis of the Revenue Code), the Company will pay the remaining dividend for the second half of 2020 performance at the rate of Baht 0.82 per share, totaling Baht 23,422 million. The remaining dividend for the second half of 2020 performance will be paid from the unappropriated retained earnings which subjected to 20% corporate income tax wherein individual shareholders shall be entitled to a Dividend Tax Credit under Section 47 bis of the Revenue Code at the rate of Baht 0.50 per share and from the dividend received from PTT Exploration and Production Public Company Limited (PTTEP) which is subjected to 50% petroleum income tax wherein individual shareholders shall not be entitled to a Dividend Tax Credit under Section 47 bis of the Revenue Code at the rate of Baht 0.32 per share. The Board of Directors has set the Record Date on March 5, 2021 to determine the name of shareholders who are entitled to receive the dividend. The dividend for the second half of 2020 performance will be paid on April 30, 2021.

In addition, we recommend the shareholders acknowledge the interim dividend payment approved by the Board of Directors on September 17, 2020 at the rate of Baht 0.18 per share, totaling Baht 5,142 million, which was paid to the shareholders on October 16, 2020.

Item 3:

To appoint the auditors and approve the audit fees for the year 2021

The board's opinion:

We recommend the shareholders to appoint Miss Waraporn Prapasirikul, CPA License No. 4579 and/or Mrs. Saifon Inkaew, CPA License No. 4434 and/or Mr.

Kittiphun Kiatsomphob, CPA License No. 8050 from EY Office Limited as PTT's auditors for the year 2021 and approve the audit fees of Baht 8,000,000, as recommended by the Audit Committee and endorsed by the Board of Directors.

Item 4:

To approve the 2021 directors' remuneration.

The board's opinion:

We recommend the shareholders to approve the 2021 directors' and the specific committee members' remuneration including directors' bonus package to be the same rate as the 2020 package. The package have been proposed by Remuneration Committee and concurred by the Board of Directors.

Item 5:

To elect directors to replace those who are retired by rotation

In 2021, there are 5 directors who are retired by rotation as follows:

(1) Professor Dr. Surapon Nitikraipot, (2) Dr.Thon Thamrongnawasawat , (3) Mrs. Nuntawan Sakuntanaga, (4) Mr. Danucha Pichayanan , and

(5) Mr.Auttapol Rerkpiboon

The board's opinion:

We recommend the shareholders to approve the re-appointment of 2 retiring directors to be PTT' s directors for another term, and nominate 3 qualified candidates to be appointed as directors namely,

(1) Mr. Payong Srivanich

(in replacement of Professor Dr. Surapon Nitikraipot );

  • (2) Mr. Jatuporn Buruspat

    (in replacement of Dr.Thon Thamrongnawasawat );

  • (3) Assoc. Prof. Dr. Chayodom Sabhasri (in replacement of Mrs. Nuntawan

Sakuntanaga)

  • (4) Mr. Danucha Pichayanan

  • (5) Mr. Auttapol Rerkpiboon

(re-election); (re-election)

The Nominating Committee has duly considered their qualifications, wisdoms, talents and experiences that valuable for PTT. The candidates in (1) (2) (3) and (4) will also be the independent directors since their qualifications meet the requirements under the Stock Exchange of Thailand' s and PTT' s definition of " Independent Director" . The State Enterprise Policy Committee already endorsed these proposed candidates. The directors who have conflict of interest did not cast their vote in this agenda item.

Item 6:

Other matters.(If any)

(4) Authorize Chairman of PTT Board of Director to manage and finalize details of 2021 AGM arrangement in case of necessary such as new meeting date and time, venue , agendas or format of the meeting under rights as stipulated by laws.

According to PTT' s Board of Directors Meeting resolution No . 8/ 2020 on August 20, 2020, the Board had announced criteria and procedures for minority shareholders to submit additional agenda items and nominate directorial candidates for the 2021AGM, in compliance with the Good Corporate Governance: the Shareholders' Rights principle. Neither additional agenda item nor candidate was proposed for this year.

PTT is deeply concerned for the safety and well-being of shareholders and all stakeholders, who will be participating in the meeting. Therefore, PTT strongly requests for your cooperation to strictly follow the precautionary measures and guidelines for holding the Annual General Meeting of Shareholders under the circumstance of COVID-19 outbreak. PTT hereby apologizes for any such inconvenience that may occur during the meeting due to the strict safety procedures

PTT will disclose the details of the 2021 AGM and its agenda items online athttp://www.pttplc.comprior to the meeting date. For inquiries, please do not hesitate to contact usatcorporatesecretary@pttplc.com. Alternatively, please contact the Office of President at +66(0)2537-3855 or fax at +66(0)2537-3887 or Investor Relations Department at +66(0)2537-3518 - 9 or fax at +66(0)2537-3948.

Yours sincerely,

Auttapol Rerkpiboon President & CEO Office of President

Tel:+66 (0) 2537 3855, Fax:+66 (0) 2537 3887

Attachment

(Translation)

Precautionary Measures and Guidelines for attending the 2021 Annual General meeting of

Shareholders, regarding the outbreak of COVID-19

PTT kindly asks shareholders to be informed and cooperate with the following measures:

1. Request for Shareholders' cooperation to giving a proxy to PTT's Independent Director to attend the meeting on behalf of Shareholders

To prevent and reduce the risk of spreading possibility of COVID- 19 from the crowding of shareholders on the meeting day, PTT asks for Shareholders' kind cooperation to grant a proxy to PTT's Independent Director to attend the meeting. We recommend to pre-casting vote for each agenda by using proxy form B and submit it along with accompanying documents for proxy appointment in the envelope enclosed with the Notice (no stamp needed) to Office of President, 24th floor, PTT, 555 Vibhavadi Rangsit Road, Chatuchak, Bangkok 10900.

  • 2. Shareholders are welcome to submit relevant questions regarding the meeting and agenda items prior to the meeting date through the following channels:

    • 2.1 Mail: Office of President 24th floor, PTT, 555 Vibhavadi Rangsit Road, Chatuchak, Bangkok 10900

    • 2.2 Email:corporatesecretary@pttplc.com

    • 2.3 Facsimile: +66(0)2537 3887

  • 3. In the case that any shareholder or proxy-holder still wants to attend in person, PTT would like to request attendees for cooperation to follow PTT's measures as follows:

    3.1 PTT shall conduct health screening, in compliance with the guidelines of Department of Disease Control, at the meeting entrance. For those being identified with respiratory symptom, PTT reserves the right to deny entry into the meeting. In case that the aforementioned shareholder presents at the venue, such shareholder may grant a proxy to PTT's Independent Director to attend the meeting.

    Each attendee will be required to stand at any line for health screening, documents check and registration, with approximately 1-2 meters space from each other.

    3. 2 Attendees will be assigned to a seat with appropriate social distancing at 1-2 meters from each other. The number of seat will be limited upon prescription of the disease prevention measures specified by the government to prevent the spread of COVID-19 annexing to announcement of the Bangkok Metropolitan Administration. After the procedure of the Registration, each attendee will be assigned a seating number and required to sit as specified for the sake of the disease prevention or following up in case of any unforeseen circumstances. When the seats are fully occupied, no more participants will be allowed to enter the meeting venue and Shareholders, who attend the meeting in persons, are required to grant proxy to the Company's Independent Directors to attend the Meeting instead of participating in persons.

    3.3 The venue will be sanitized and cleaned with Ozone Sterilization and Alcohol prior to the meeting. PTT kindly requests everyone to prepare and wear a facemask at all times.

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PTT pcl published this content on 18 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 February 2021 13:10:01 UTC.